This quarterly economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Economic Forecast: British Columbia—Spring 2017
Provincial Outlook Economic Forecast: British Columbia—Spring 2017
Provincial Economic Analysis
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- Real GDP is expected to expand by 2.5 per cent this year and 2.1 per cent in 2018.
- After growing at a double-digit pace last year, housing starts are forecast to decline by 12.4 per cent this year and 5.5 per cent in 2018.
- The slump in housing market activity will have a negative effect on employment, income, and spending.
- The U.S. tariff on softwood lumber exports is another blow to a B.C. industry dealing with numerous other challenges.
- While the B.C. fiscal surplus will decline over the near term, the government balance will remain in the black.
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